Insight

MassPRIM strengthens VC connections

The pension fund made $111m of commitments across three private equity funds.

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Institution: Massachusetts Pension Reserves Investment Management Board
Headquarters: Boston, US
AUM: $100.9 billion
Allocation to private equity: 17.1%

Massachusetts Pension Reserves Investment Management Board (MassPRIM) recently approved multiple commitments to private equity, confirmed by a contact at the pension.

The pension fund committed $51 million across two Spark Capital funds: $17 million to Spark Capital VIII and $34 million to Spark Capital Growth Fund V. Spark Capital, with which MassPRIM had invested in 11 prior funds since 2005, is a venture capital firm that invests in start-ups involved in the media, entertainment and technology sectors.

The US-based pension fund also committed $60 million to Flagship Pioneering Fund VIII, which is the ninth Flagship Pioneering fund that MassPrim has committed to since 2004. Founded in 2000, Flagship Pioneering, (formerly known as Flagship Ventures) is a Cambridge-based venture capital firm that focuses on healthcare, technology, renewable energy and agriculture in North America.

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